Kotak Mahindra Bank Senior Citizen Fixed Deposit
Kotak Bank offers senior citizen fixed deposit schemes to Indian citizens over the age of 60 years. Senior citizens can benefit from special interest rates and get higher returns on their savings.
The FD interest rate offered by Kotak Mahindra Bank for senior citizens ranges from 3.25% p.a. to 7.45 % p.a.
Features and Benefits of Kotak Bank Senior Citizen Fixed Deposits
- Flexible tenures ranging from 7 days to 20 years.
- Special FD interest rates.
- You can get interest on a monthly/quarterly basis or continue to invest it until maturity.
- Minimum deposit amount is Rs.5,000.
- Kotak Bank account holders can open a fixed deposit via net banking.
- Nomination facility is available.
- Partial/premature withdrawal of fixed deposit is allowed.
- Overdraft facility against fixed deposit is available.
Kotak Bank Senior Citizen Fixed Deposit Rates
Given below are the senior citizen fixed deposit rates offered by Kotak Bank for deposits less than Rs.3 crores.
Tenure | Interest rates (p.a.) |
7 - 14 Days | 3.25% |
15 - 30 Days | 3.50% |
31 - 45 Days | 3.75% |
46 - 90 Days | 4.00% |
91 Days | 5.50% |
92 - 179 days | 4.75% |
180 Days | 7.00% |
181 Days to 269 Days | 6.50% |
270 Days | 6.50% |
271 Days to 363 Days | 6.50% |
364 Days | 7.00% |
365 Days to 389 Days | 7.00% |
390 Days (12 months 25 days) | 7.30% |
391 Days - Less than 23 Months | 7.45% |
23 Months | 7.45% |
23 months 1 Day- less than 2 years | 7.45% |
2 years- less than 3 years | 7.25% |
3 years and above but less than 4 years | 7.25% |
4 years and above but less than 5 years | 7.25% |
5 years and above up to and inclusive of 10 years | 6.70% |
Note: The interest rates mentioned in the above table is effective from 28 May 2025.
Eligibility & Documents Required for Kotak Senior Citizen FDs
- Valid driving licence/passport
- A photograph
- You must have a savings account for the past six months
- An introduction from Kotak Bank or any other bank
FAQs on Kotak Bank Senior Citizen FD Rates
- What is the interest rate offered by Kotak Bank fixed deposits to senior citizens?
The interest rate offered by Kotak Bank fixed deposits to senior citizens ranges from 3.25% p.a. to 6.70% p.a.
- What is the minimum deposit amount for Kotak Bank fixed deposits?
The minimum deposit amount for Kotak Bank fixed deposits is Rs.5,000.
- Does Kotak Bank offer a nomination facility on fixed deposits?
Yes, a nomination facility on fixed deposits is available.
- Is overdraft facility against fixed deposit for senior citizens?
Yes. Overdraft facility against fixed deposit is available for senior citizens.
- What is the penalty for premature withdrawal of fixed deposits?
There is no penalty levied on premature withdrawal of fixed deposits with tenures less than 181 days. However, for tenures of 181 days and above, a penalty of 0.50% will be applicable.
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